StoneEagle Compliance Program
For TPAs and AUTO LENDERS | FAQs
The following FAQs are intended to provide further details about the StoneEagle Compliance program.
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What is the StoneEagle Compliance Program?
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The StoneEagle Compliance Program is an initiative launched in response to calls from TPAs and auto lenders to improve industry-wide compliance for the benefit of consumers. The particular focus of the program is on product cancellations and refunds, an area of high regulatory and legal scrutiny. Auto lenders rely on TPAs to provide timely and accurate cancellation refund amounts for consumers.
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What is the goal of the program?
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The goal of the Program is to implement secure electronic connectivity between TPAs, lenders and dealers to cost-effectively improve compliance across the industry. Without electronic connectivity to TPAs, lenders are often-times challenged to fulfill their compliance obligations. The industry is taking proactive steps to demonstrate to regulators their steadfast commitment to compliance.
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Who is participating in the program?
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Initially, auto lenders and TPAs are the main participants. Vendors who provide cancellation refund services to lenders will also participate. Dealers will be added to the program in the future.
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How much does it cost to participate?
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There is no cost for TPAs to participate.
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Is there any work required on our end to participate?
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No. Granting permission for access to certain data from your Administration system is all that is required.
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Why is StoneEagle leading this initiative?
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StoneEagle has the largest digitally connected provider network in the industry. TPAs that use the StoneEagle Administration platforms will be the first to participate. Our market position will help to accelerate implementation of the program.
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Why should my company participate?
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TPAs incur significant operating expense to fulfill high volumes of refund quote and cancellation requests that are received from lenders, dealers and vendors via phone calls, email and large spreadsheets. TPAs will benefit from reduced operating expense related to providing cancellation refund quotes using non-electronic means. Lenders will benefit from obtaining faster and more accurate refund quotes. Overall, consumers will benefit from improved certainty they will receive the refunds they are entitled to in a timely manner.
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What kind of data will be accessed?
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The focus is on data pertaining to product cancellations and refunds, such as contract information, cancellation information, refund quotes and refund payment information.
How do I know who is accessing my data?
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Auto lenders and service providers acting on behalf of lenders will be accessing the data for Compliance purposes only. TPAs will be aware of which companies are accessing their data. In the future dealers may also be accessing the data to obtain refund quotes.
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How do I authorize access to my data?
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A Consent process is followed for TPAs to grant permission for auto lenders and industry vendors to access the TPA’s data residing in the StoneEagle Administration platforms. Access to TPA data is prohibited until consent is granted.
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How do I know my data is secure?
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StoneEagle maintains robust security for TPAs today in the SEA and SCS administration platforms. Among a host of security protocols, we are SOC2 certified and maintain cyber insurance.
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How do I obtain more information about the program?
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Your StoneEagle account representatives are available to provide further details and answer your questions. For more information about StoneEagle’s Compliance line of business, feel free to contact Rich Apicella.
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How do I sign up to participate?
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Your StoneEagle account representative has the required documentation for your company to enroll in the program.
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StoneEagle Contacts
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Email your Enterprise Account Manager directly, or email accountmanagement@se-fi.com for more information.
Rich Apicella/Vice President Compliance